03:20:41 EST Thu 05 Feb 2026
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Red Metal Resources Ltd (3)
Symbol RMES
Shares Issued 40,035,726
Close 2026-02-04 C$ 0.085
Market Cap C$ 3,403,037
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Red Metal starts lidar survey at Carrizal

2026-02-04 18:11 ET - News Release

Ms. Caitlin Jeffs reports

RED METAL RESOURCES COMMENCES DETAILED LIDAR SURVEY ON CARRIZAL CU-AU-CO PROPERTY, CHILE

Red Metal Resources Ltd. has commenced a detailed lidar (light detection and ranging) survey over the Carrizal property, focusing on the Farellon project.

Highlights

  • Data collection is expected to be completed between Feb. 2 and Feb. 8.
  • Lidar provides high-resolution, three-dimensional maps of surface features at centimetre-scale resolution. It operates by emitting laser pulses toward the ground from an aircraft or a drone and measuring the time it takes for the pulses to return after reflecting off the surface. Applying hillshading at multiple angles to the data reveals structural lineaments and offsets that are not visible in satellite imagery, giving a clear vision of the tectonic framework.
  • The lidar survey over the Farellon portion of the Carrizal property will be used to aid in extending vein hosting structures out from mapped extents, identify historic workings that have been filled over time and are no longer obvious at surface or through satellite imagery, conduct detailed geological contact mapping, and identify any subtle structures with potential to be pathways for mineralization.

Prior surface work on the Carrizal property identified distinct mineralization zonation. The South Theresa and Armonia veins in the southeast of the project show a higher gold-to-copper ratio compared with the Farellon and Gorda veins in the west. The lidar data, combined with existing extensive surface sampling and mapping, will be instrumental in developing high-priority drill targets for future drilling.

Red Metal Resources president and chief executive officer Caitlin Jeffs stated: "Utilizing high-resolution lidar allows us to identify historic workings and subtle structural pathways that satellite imagery simply cannot catch. This is a cost-effective way to develop better targets focusing on the most promising gold and copper zones identified in our recent surface programs."

The lidar survey will be flown over 1,293 hectares using a DJI Matrice 300 plus lidar L2 scanner used by Red Rock SpA.

Highlights of surface sampling on the Farellon property, including samples taken in 1996, 2012, 2022 and 2025.

Qualified person

The technical content of this news release has been reviewed and approved by Caitlin Jeffs, PGeo, who is a qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring, and developing clean energy and strategic minerals projects. The company's portfolio of projects includes seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totalling over 4,546 hectares, located in Ville Marie, Que., and Larder Lake, Ont., Canada. As well, the company has a Chilean copper project, located in the prolific Candelaria iron-oxide-copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

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